Here are the biggest calls on Wall Street on Tuesday:

JPMorgan initiates Firefly Aerospace Inc. Aerospace at overweight

JPMorgan said the company is going to be a “leader” in the space market.

“We are initiating coverage of Firefly Aerospace (FLY), a small and mid-size launch provider and spacecraft manufacturer, with an OW rating and a YE26 price target of $55, or 10.5x our 2027 sales of $787m.”

JPMorgan reiterates Apple as overweight

JPMorgan said it’s bullish heading into Apple’s iPhone event on September 9.

“The first public look at the new line up of iPhones, that will be supported by incremental AI features through the year, can still hold some surprises in relation to hardware changes as well as pricing that can, in the current macro, set up for potential upsides, which however will only be modest in magnitude when compared to prior inflections or super cycles.”

Morgan Stanley reiterates Broadcom as overweight

Morgan Stanley raised its price target on Broadcom to $357 per share from $338.

“Outside of AI, we expect a cyclical recovery in semis and stable software.”

Bernstein reiterates Netflix as outperform

Bernstein said investors should buy the dip in shares of Netflix.

“While near-term questions may persist, Netflix’s longer-term growth algorithm — engagement, subs, pricing — remains solid, supporting further operating leverage and margin expansion.”

Bank of America reiterates NVIDIA and Broadcom as buy

Bank of America said it’s sticking with Nvidia and Broadcom as top ideas.

“We continue to favor high quality large caps including: 1) AI data centers (NVDA, AVGO, AMD), 2) EDA (CDNS), 3) Semicap (LRCX, KLAC), 4) “Analog” industrial/auto (ADI, NXPI).”

Goldman Sachs adds Wal-Mart and McDonald's to the conviction buy list

Goldman added both stocks to its conviction buy list.

“We add Cadence Design Systems (CDNS), Valero Energy (VLO), McDonald’s (MCD) and Walmart (WMT) to the US Conviction List, while removing Viper Energy (VNOM) and Insmed (INSM).”

Morgan Stanley upgrades Zscaler Inc. to overweight from equal weight

Morgan Stanley said in its upgrade of Zscaler that the cybersecurity company has more room to run.

“While valuation reset this year has captured near term dislocation, growth adjusted multiple leaves opportunity for upside if growth / margins outperform.”

Deutsche Bank upgrades Frontier Group Holdings, Inc. to buy from hold

Deutsche upgraded the discount airline following Spirit’s restructuring.

“We are raising our rating on Frontier’s shares (ULCC) from Hold to Buy as we see the low fare carrier as best-positioned to be the biggest beneficiary of Spirit’s bankruptcy given their network overlap.

Goldman Sachs initiates Brookfield Corp at buy

Goldman called the alternative asset management company a “capital compounder at a discount.”

“We initiate coverage of Brookfield Corporation with a Buy rating, with a $78 12-month price target, ~20% upside.”